TMI Blog2021 (12) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... commenced the development and construction, was entirely different from the original plan and that plan has been approved by the local authority only in 2003. It has been factually held that as per the original plan approved on 28th November 1992, two buildings were to be constructed on the aforesaid plot of land. As per the revised building plan approved by the local authority in 2003, seven buildings were to be constructed on the said plot of land. It is also not disputed that assessee is a different entity from Bombay Gas Co. Ltd. which had got original plan approved in 1992 and the assessee had taken possession of the plot of land only in the year 2003 and thereafter got the revised plan approved. ITAT has not committed any perve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cate to assessee s project Gundecha Gardens on 28th November 1992 to one Bombay Gas Co. Ltd. for development of the proposed residential building and club house. This had been revalidated up to 27th November 2003 and the same was being extended for further period as evidenced in the notings in the commencement certificate dated 28th November 1992. The part occupation certificate, on the basis of which deduction under Section 80IB(10) of the Act was claimed in respect of completion of Wing A, B C was also issued in favour of Bombay Gas Co. Ltd. on 18th February 2006 by BMC. The Assessing Officer also found that a sum of ₹ 1,80,46,496/- was incurred before 1st October 1998 on the development of the project by one Bombay Gas Developers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by respondent before Income Tax Appellate Tribunal (ITAT) and the appeal came to be dismissed. Respondent has preferred an appeal in this court being Income Tax Appeal No.1517 of 2013 and the same has been admitted on 7th May 2015 and is still pending. 2. Based on the revisionary orders passed by the CIT, an assessment order under Section 143(3) read with Section 263 of the Act was passed on 22nd March 2013 assessing total income of the assessee at the same figure of ₹ 13,50,93,090/-. The assessee s claim of deduction under Section 80IB(10) of ₹ 13,50,93,090/- was disallowed for violation of both conditions prescribed under Section 80IB(10) regarding commencement as well as completion of the project. The Assessing Officer co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in allowing deduction u/s 80IB(10) of the Income Tax Act 1961, without appreciating the fact that the completion certificate of the local authority for the housing project was not obtained upto 31st March 2008, the date on or before which the construction of the housing project should have been completed, to be eligible for deduction u/s 80IB(10) of the Income Tax Act 1961. 5. As regards second question proposed, Mr. Suresh Kumar submitted that in view of the finding of this court in its order dated 16th January 2019 in Income Tax Appeal No.1027 of 2016, this question has been answered. 6. As regards first question, CIT(Appeals) as well as ITAT has come to a conclusion on facts that though permission was obtained by Bombay Gas Co. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y or applied incorrect principles to the given facts and when the facts and circumstances are properly analysed and correct test is applied to decide the issue at hand, then, we do not think that question as pressed raises any substantial question of law. 9. The appeal is devoid of merit and is dismissed with no order as to costs. 10. Mr. Suresh Kumar states that this order will apply to all the appeals which are listed today namely; ITXA No.1672 of 2017, ITXA No.1673 of 2017, ITXA No.966 of 2018, ITXA No.951 of 2018 and ITXA No.940 of 2018. These appeals are also accordingly dismissed. 11. In view of the above order, Ms Khan seeks leave to withdraw ITXA No.1517 of 2013. Leave granted. ITXA No.1517 of 2013 dismissed as withdrawn. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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